We are obligated to keep information about the business for sale
confidential. The Seller wants to make sure the employees,
customers and vendors are not made aware of a potential sale.
This in itself could be harmful to the business and would not be
in the Sellers or Buyers best interest. Therefore, we require
buyers complete our
Non-Disclosure agreement
before we can provide detail information. Once this document is
complete and you are qualified, we will provide you detail
information via phone, fax or email based on your preference.

Business brokers prefer to talk to people in person, and the
buyer is no exception. During a preliminary meeting the broker
will typically ask the prospective buyer questions such as
these:

- Do you have the necessary funds to buy a business
- Is the cash readily available?
- What is your time-frame for buying a business?
- What are your expectations about the purchase of a business?

After this fact-finding discussion, the broker can then show the
buyer businesses that are both feasible and that fit the buyer's
requirements. Further steps the broker will lead the buyer
through are as follows:

- Since sellers are (rightly) concerned about confidentiality, the broker will ask the prospective buyer to sign a non-disclosure agreement.
- The broker will provide the prospective buyer with preliminary information about one or more businesses, including pertinent financial data.
- Once the buyer has indicated strong interest in a particular business, the broker can then supply additional information and schedule further on-site appointments.

When the buyer is ready, the business broker will be the best
source for answering questions, addressing concerns, resolving
loose ends, and offering a business broker's unique expertise in
the business sale transaction.

The simple answer is YES. We are obligated to keep information
about the business for sale confidential. The Seller wants to
make sure the employees, customers and vendors are not made
aware of a potential sale. This in itself could be harmful to
the business and would not be in the Sellers or Buyers best
interest. Therefore, we require buyers complete our
Non-Disclosure agreement
before we can provide detail information. Once this document is
complete and you are qualified, we will provide you detail
information via phone, fax or email based on your preference.

We have committed to our Seller's that we will not show the
business to someone who cannot afford to buy it. Therefore, you
will need to provide us information to accommodate this
requirement. We will not proceed until we have satisfied this
requirement.

Charlotte Business Brokers is not a lender, but we work with
several lending sources to help find the financing you need.
We can help with traditional bank loans, SBA (Small Business
Administration) loans and mezzanine financing.

What is needed when getting financing? Buyers need to put
something into the deal anywhere from 10-30%, they must
have good credit, and they should have some type of experience
either in the industry they are buying, management experience,
or small business ownership in their history. There are a range
of factors that are looked at overall to see if the buyer is
loan worthy.

Factors that are considered overall are: Does the buyer have
partial or full collateral for the loan, do they have other
forms of income that may be coming in, what do the future
financial projections look like for the business, is their
sufficient cash flow to cover the debt service payments, - these
are all elements that are looked at and weighed.

The buyer also has to fill out a personal financial statement
and provide tax returns for at least 3 years, and sign a release
for a credit check to be done.

Sellers will need to provide these items for consideration:
at least 3 years of financials and tax returns, a client list,
an accounts receivable/payable aging report, financial
projections for 1 year, 3 years, and possible to 5 years out,
equipment list with approximate market - liquidation values
depending on the financial institution, and other items
depending on the type and size of business.